Edition:
International

Chijioke Ohuocha

UPDATE 1-Flour Mills to fund Honeywell acquisition with cash and debt

Nov 23 2021

ABUJA, Nov 23 Flour Mills of Nigeria said on Tuesday it will acquire a majority stake in rival Honeywell Flour Mills with its own cash and some debt and aims to apply for regulatory approval in the next day or so.

UPDATE 1-Nigeria should end fuel subsidy, speed reforms, World Bank says

Nov 23 2021

ABUJA, Nov 23 Nigeria needs to end its costly petrol subsidy within the next three-to-six months, improve exchange-rate management and speed up other reforms to boost growth, the World Bank said on Tuesday.

Nigeria should end fuel subsidy, speed reforms to boost growth, World Bank says

Nov 23 2021

ABUJA, Nov 23 Nigeria needs to end its costly petrol subsidy within the next three to six months and improve exchange-rate management to speed up reforms to boost growth, the World Bank said on Tuesday.

UPDATE 2-Nigeria inflation eases in October ahead of rate decision

Nov 15 2021

ABUJA, Nov 15 Nigerian inflation eased in October for the seventh month running as rises in prices for food and non-food items slowed, the statistics office said on Monday, a week before the central bank makes a decision on interest rates.

UPDATE 1-Nigeria's UBA issues $300 mln Eurobond at 6.75% yield -adviser

Nov 12 2021

ABUJA, Nov 12 Nigeria's United Bank for Africa (UBA) has issued a $300 million Eurobond at a yield of 6.75% to fund growth, its adviser said on Friday.

Nigerian currency traders ask central bank for official market access

Nov 11 2021

ABUJA, Nov 11 Nigeria's bureau de change operators have asked the central bank to consider a framework that will enable them access to foreign currencies at official market rates in an attempt to eliminate black market premiums that put additional pressure on the naira.

MTN to sell shares in Nigeria unit via public offer

Nov 05 2021

ABUJA MTN Group Ltd will begin book-building this month for a public offer to sell up to 575 million shares in its Nigeria business, South Africa's biggest telecoms operator said on Thursday, as it reported higher third-quarter revenue and core profit.

UPDATE 1-Six die, scores feared missing in Nigeria after collapse of high-rise

Nov 02 2021

ABUJA, Nov 2 At least six people have died in Nigeria's commercial capital of Lagos after the collapse of a high-rise building that was under construction, the state emergency services chief said on Tuesday.

Crypto trading thrives in Nigeria despite official disapproval

Oct 12 2021

LAGOS Nigerian art dealer Ebuka Joseph started using cryptocurrencies last year when business ground to a halt due to COVID-19. Now he is hooked even though the financial authorities disapprove. | Video

Nigeria cranks up spending to record $39.8 billion in 2022 budget

Oct 07 2021

ABUJA Nigeria's president unveiled a record 16.39 trillion naira ($39.8 billion) budget for 2022 on Thursday, with a projected 25% year-on-year rise in government spending as the economy struggles with the impact of the pandemic.

World News